1) Research the market. You've heard the terms "It's A Buyer's" market or "It's a seller's" market. A hot market is a seller's market - where homes sell quickly and buyers are getting in line to buy up the available inventory. A slow market is a buyer's market - that's a market where there are alot of homes for sale and a buyer can pick and choose and usually negoitate a better price. When you find the area you want to live in - start your homework by investigating what is going on in the market. Are prices increasing? Are there plenty of homes for sale?
2)Find Comparables- once you have found the home you are interested in - find similar homes that have sold recently in the same neighborhood. These similar homes are called "comparables" with the same number of bedrooms and baths and similar in size, and have sold RECENTLY! This will give you an indication of what the home your interested in may be worth. Remember that market condtions can change quickly....that is why I emphasised RECENTLY.
3) Hit the pavement and check out the comparables. Once you have deteremined what the comparable properties are - go visit them in person. Check out the condition and location. Stats and figures tell a lot about a home - but they cna't fully express how a home looks and feels in person.
4) Get 411 (information). Find out the sales history of a property. This can be done through an on-line search of the Deed of Registrars or with the help of a real estate agent.
5) Check DOM - find out how long the hme has been on the market. Your buyer's agent will be able to give you an exact days on market.
6) Inspect - visit the property and do a visual inspection. Your agent will help you get in the property. Make sure to inspect the foundation, get into the attice and if necessary - stick your head into the crawl space. You may even want to do a Home Inspection before making an offer.
7)Test out the commute. How far it is to your workplace? What about schools, shopping and medical care. Make sure the commute works for you.
8) Explore the neighborhood. I always tell my clients to explore the neighborhood. Visit at times during the day when people are heading home from work. See what is going on in the area on weekends. Talk to a couple of neighbors - they are a good source of information.
9)Get a second opinion. Take a family member or friend out to the property. Have them walk through and around the house. They may see something that you did not see on your initial inspection.
10) Get your financing in order. Start pulling together the necessary documents that will verify employment and income. Shop 3 lenders to make sure you are getting the best interest rates.
Now you are ready to put in that offer. Visit our website www.crystalcoasthomesearches for more home buying tips, as well as to search all homes for sale on the Crystal Coast of North Carolina.